Sask. cattle beef market report for Jan. 11

This information for Saskatchewan beef cattle market report is provided as a resource by Saskatchewan Agriculture staff. 

All stated cattle prices are based on the weekly Canfax Market Outlook and Summary. Please use this information at your own risk. 

Please find attached the latest Cattle Market Update. Highlights for the week include the following:

·         Saskatchewan feeder steer and heifer prices were not reported for the week ending January 8th.

·         Live cattle futures prices traded sideways this week with the February contract decreasing overall by US$0.375 per cwt relative to December 18th to settle at US$114.475 per cwt on Friday. The April contract increased $0.650 per cwt compared to December 18th to settle at US$119.300 per cwt.

·         Choice beef cutout prices (600-900 lb.) for the week averaged US$206.73 per cwt, down US$2.92 per cwt from US$209.65 per cwt the previous week, a decrease of 1.4 per cent. The Choice beef cutout is 1.4 per cent lower than the same week a year ago when it was valued at $209.74 per cwt.

Canfax reported a total of 3,862 head of cattle were sold in Saskatchewan this week, down from 12,182 head during week ending December 18th, and less than the 6,296 head marketed during the same week in 2020. 

Saskatchewan feeder steer and heifer prices were not reported for the week ending January 8th. 

Saskatchewan feeder cattle prices are provided by Canfax (#403-275-5110) or (www.canfax.ca) and cannot be redistributed without permission. 

The Saskatchewan 750 lb. feeder steer basis could not be calculated due to the local price not being reported. 

Feeder cattle futures started the week off with a large decline and have been mixed throughout the remainder of this week. They ended the week lower with the nearby January futures feeder cattle contract settling at $135.83 per cwt, down $4.63 per cwt from the December 18th settlement of US$140.45 per cwt. The March contract decreased by $5.48 per cwt for the week to settle Friday at US$136.83 per cwt. 

Live cattle futures prices traded sideways this week with the February contract decreasing overall by US$0.375 per cwt relative to December 18th to settle at US$114.475 per cwt on Friday. The April contract increased $0.650 per cwt compared to December 18th to settle at US$119.300 per cwt. 

Prices of live, non-fed cattle in Alberta were primarily higher from the last reported price of December 18th. The price of D2 slaughter cows saw a small increase of $0.73 per cwt to average $75.40 per cwt; while the price of D3 slaughter cows saw a small decrease with prices decreasing $0.18 per cwt from December 18th to average $64.70 per cwt. The fed cattle prices for Alberta fed steers this week was reported at $145.53 per cwt; up $5.40 per cwt from $140.13 per cwt the week of December 18th. 

The live (FOB feedlot) weighted average 5-area (Texas/Oklahoma/New Mexico, Kansas, Nebraska, Colorado and Iowa/Minnesota) weekly fed steer price in the U.S. was reported at US$111.48 per cwt, down US$0.03 per cwt from US$111.51 per cwt the previous week, and 10.4 per cent lower from $124.47 per cwt the same week a year ago. 

The dressed (delivered basis) price for U.S. steers delivered to plants in the 5-area was reported at US$176.02 per cwt, a price increase of US$0.35 per cwt from US$175.67 per cwt the previous week, but down 11.9 per cent from US$199.74 per cwt the same week a year ago. 

Choice beef cutout prices (600-900 lb.) for the week averaged US$206.73 per cwt, down US$2.92 per cwt from US$209.65 per cwt the previous week, a decrease of 1.4 per cent. The Choice beef cutout is 1.4 per cent lower than the same week a year ago when it was valued at $209.74 per cwt.

Cattle market update

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